HiteJinro Reports Q1 Operating Profit of 58.1 Billion KRW, Up 9.7% YoY

[Asia Economy Reporter Song Seung-yoon] Hite Jinro announced on the 16th through a public disclosure that its consolidated sales for the first quarter of this year reached 583.7 billion KRW, a 9% increase compared to the same period last year. Operating profit recorded 58.1 billion KRW, up 9.7%.

Sales in the beverage sector increased by 53% compared to the same period last year. In particular, key products such as the mineral water brand ‘Seoksu’ and beverage products ‘Hite Zero 0.00’, ‘Jinro Tonic Water’, and ‘Black Barley’ all showed balanced growth, leading to strong performance.

‘Hite Zero 0.00’, Korea’s first non-alcoholic beer-flavored beverage, saw its sales surge by 145% in the first quarter compared to the same period last year, and ‘Jinro Tonic Water’ also increased sales by 51% during the same period. Additionally, ‘Black Barley’ sales rose by 22% year-on-year, and the flagship mineral water product ‘Seoksu’ PET grew by 28%.

A Hite Jinro Beverage official stated, “As we have continued positive management results driven by key products, we plan to further strengthen marketing for these products this year. We will continue to implement the specialist strategy that embodies the company’s identity.”